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Healthy Skepticism Library item: 15796

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

 

Publication type: news

Anti-trust watchdog studies GlaxoSmithKline Pfizer
Yahoo Finance 2009 May 27
http://www.eiu.com/index.asp?layout=ib3Article&article_id=1344540519&country_id=1460000146&pubtypeid=1152462500&industry_id=&category_id=&rf=0


Abstract:

Britain’s anti-trust watchdog to investigate GlaxoSmithKline and Pfizer’s joint HIV venture


Full text:

Britain’s competition watchdog said Wednesday that it will investigate plans by drug maker GlaxoSmithKline PLC to pool resources with Pfizer Inc. to create a new company to develop and sell HIV medicines.

The Office of Fair Trading said it will decide whether the joint venture can be considered to be a merger that will reduce competition in the UK. It also will decide whether to refer the case to the Competition Commission regulators, which have the power to block or put limits on the deal. The OFT said interested parties had until June 9 to submit their views for the first stage of consultations.

GlaxoSmithKline, the world’s second largest drug maker by revenues, said last month that it plans to form a new company with Pfizer Inc. that will blend Galaxo’s portfolio of HIV drugs now on the market — some with patents approaching expiration — with New York-based Pfizer’s more robust pipeline of drugs in development.

With 11 HIV medicines already on sale, the new venture would have a 19 percent market share, ranking it No. 2 behind sales leader Gilled Sciences Inc. Other competitors in the field include heavyweights Bristol-Myers Squibb Co., Abbott Laboratories, Merck & Co. and Dumont Pharmaceuticals Co.

GlaxoSmithKline shares closed down 0.23 percent at 1,062.00 pence ($17.05) on the FTSE Index.

 

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...to influence multinational corporations effectively, the efforts of governments will have to be complemented by others, notably the many voluntary organisations that have shown they can effectively represent society’s public-health interests…
A small group known as Healthy Skepticism; formerly the Medical Lobby for Appropriate Marketing) has consistently and insistently drawn the attention of producers to promotional malpractice, calling for (and often securing) correction. These organisations [Healthy Skepticism, Médecins Sans Frontières and Health Action International] are small, but they are capable; they bear malice towards no one, and they are inscrutably honest. If industry is indeed persuaded to face up to its social responsibilities in the coming years it may well be because of these associations and others like them.
- Dukes MN. Accountability of the pharmaceutical industry. Lancet. 2002 Nov 23; 360(9346)1682-4.